Military Strikes Continue Against ISIL Terrorists in Iraq, Syria
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported on Wednesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Syria Attack, fighter and […]
Currency Auction Results, 30th Mar
By John Lee. The Central Bank of Iraq (CBI) has reported that 26 banks and 16 remittance companies took part in its currency auction on Wednesday. A total of $81,956,644 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Abadi Rejects Deadline for New Cabinet
By John Lee. Prime Minister Haider al-Abadi has called for parliament to either support or reject his calls for a technocratic government, pushing back against a looming deadline for a new cabinet, according to a report from AFP. He said Parliament must decide if it wants him "to present ministers from the political blocs or […]
IMF could Secure 3-yr Standby Deal for Iraq
By John Lee. Reuters reports that the International Monetary Fund could approve a standby arrangement (SBA) with Iraq as early as June, unlocking $15 billion in international assistance over the next three years. The head of the IMF’s mission in Iraq, Christian Josz, said on Tuesday that the package of assistance, nearly one third of it […]
UNDP and Japan partner to Support Iraq
UNDP and Japan partner to support stabilization and resilience in Iraq The Government of Japan is providing US$23.5 million to support the United Nations Development Programme (UNDP) in its work to help stabilize and build resilience in Iraq. Japan’s contribution will be channeled through UNDP’s Funding Facility for Immediate Stabilization (FFIS) and through UNDP’s Iraq […]
Social and Economic Inclusion Key to Stability in Iraq
World Bank Group President Jim Yong Kim (pictured) told a special session of the Iraqi parliament that the path to stability and shared growth in Iraq lay in empowering local governments, opening up and diversifying the economy, and improving the management of public finances by reforming the public sector and increasing accountability. The speech came […]
Coalition Strikes Continue Against ISIL Terrorists in Iraq
U.S. and coalition military forces continued to attack Islamic State of Iraq and the Levant terrorists in Iraq yesterday, Combined Joint Task Force Operation Inherent Resolve officials reported on Tuesday. Officials reported details of the latest strikes, noting that assessments of results are based on initial reports. Strikes in Iraq Attack aircraft conducted four strikes […]
Video: The Influence of Shia Cleric Muqtada al-Sadr
From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News. When Shia cleric Muqtada al-Sadr speaks, millions of Iraqis listen. Al Jazeera's Bernard Smith explains:
Currency Auction Results, 29th Mar
By John Lee. The Central Bank of Iraq (CBI) has reported that 25 banks and 18 remittance companies took part in its currency auction on Tuesday. A total of $80,514,348 sold at a price of 1182 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Oil Minister "Suspends Participation" in Cabinet Meetings
By John Lee. Iraqi Oil Minister Adel Abdel Mahdi [Adil Abd Al-Mahdi] (pictured) has said he is "suspending his participation" in cabinet meetings, until parliament votes on his resignation, which he offered last summer. He has also cancelled all appointments and activities relating to his position as Minister, saying that his decision was aimed at "confronting […]
France's Total to Develop Shared Oilfield in Iran
By John Lee. Iran has reportedly signed an agreement with France's Total to develop the South Azadegan oil field, which is shares with Iraq. Iranian Oil Minister Bijan Zangeneh (pictured) is quoted as saying that both parties have agreed to keep the details of agreement confidential, adding that the French firm is now "studying its […]
Siemens signs 'Landmark Agreement' with Iraq
Siemens has signed a Memorandum of Understanding (MoU) with the Federal Government of the Republic of Iraq to strengthen the collaboration with the Ministry of Energy as well as Ministry of Oil & Gas for modernizing the energy infrastructure and the Oil & Gas sector. In the presence of the Prime Minister of Iraq, Mr. […]